Editing General Electric Company (section)

===Marconi plc (1999–2002)===
While the deal was yet to be completed, GEC used much of the anticipated proceeds of the MES sale to buy companies in 1999. This move was part of a major realignment of the firm to focus on the burgeoning telecoms sector, and it became a radio, telecommunications and internet equipment manufacturer.<ref name = "msi aquapartners"/> At the time, financial markets approved of the strategy; GEC's share value set new all-time highs during early 1999.<ref>{{cite web |url = https://www.independent.co.uk/news/business/market-report-gec-the-star-as-market-soars-to-a-new-peak-1090155.html |title = Market Report: GEC the star as market soars to a new peak |work = The Independent |first = Francesco |last = Guerrera |date = 27 April 1999 }}</ref>

In 1999, Marconi plc purchased two American equipment-makers: RELTEC Corporation in March for £1.3bn, and [[FORE Systems]] in April for £2.8bn, to complement the telecommunication business of its subsidiary [[Marconi Communications]].<ref name="GPT-H-03"/><ref name = "cover insider"/> Later that year, GEC acquired [[Kvaerner]]'s [[Govan]] shipyard.<ref name="MPLC-H-05"/> In April 2000, it acquired [[Mobile Systems International]] in exchange for £391m.<ref name = "msi aquapartners">{{cite web |url = https://www.aquaapartners.com/transactions/marconi-plc-on-its-acquisition-of-mobile-systems-international-msi |title = Advised: Marconi PLC on its acquisition of Mobile Systems International (MSI) |publisher = aquaapartners.com |access-date = 23 September 2023}}</ref><ref>{{cite web |url = https://www.wirelessnetworksonline.com/doc/marconi-buys-msi-software-for-618-million-0001 |title = Marconi Buys MSI Software for $618 Million |publisher = wirelessnetworksonline.com |date = 25 April 2000}}</ref> Consolidating and monitoring the finances of these acquisitions soon added to the future difficulties encountered by Marconi.<ref name = "oracle reporting2001"/>

These acquisitions were made at the height of the [[dot-com bubble]], and the bursting of the bubble in 2001 took a heavy toll on Marconi.<ref name="MPLC-H-06"/><ref name="MPLC-H-07"/><ref name="MPLC-H-08"/> While the company initially chose to deny any impact to sales, the delayed issue of a profit warning spooked investors.<ref name = "Julian destruction"/><ref name = "oracle reporting2001">{{cite web |url = https://www.theregister.com/2001/07/17/oracle_aided_marconi_collapse/ |title = Oracle aided Marconi collapse |publisher = [[The Register]] |first = Kieren |last = McCarthy |date = 17 July 2001 }}</ref> In July 2001, Marconi plc suffered a 54% drop in its share price following the suspension of trading of its shares, profit warning, and redundancies. Having accumulated a sizable debt pile that was continuing to mount due to heavy losses, Marconi was facing bankruptcy.<ref>{{cite web |url = https://www.independent.co.uk/news/business/news/from-bluechip-giant-to-hitech-flop-the-aps30bn-fall-of-marconi-9153263.html |title = From blue-chip giant to hi-tech flop: the £30bn fall of Marconi |work = The Independent |first = Michael |last = Harrison |date = 6 July 2001}}</ref><ref name = "Julian destruction"/><ref name = "cover insider"/>

In September 2011, Simpson was forced to resign from Marconi and a new management team was brought in under Mike Parton, the new chief executive.<ref name = "cover insider">{{cite web |url = https://www.insidermedia.com/news/midlands/5579-cover-story-marconi |title = COVER STORY: Marconi |publisher = insidermedia.com}}</ref><ref name = "Julian destruction">{{cite web |url = https://www.london.edu/think/the-destruction-of-marconi |title = The destruction of Marconi |publisher = london.edu |first = Julian |last = Birkinshaw |date = 1 March 2004}}</ref> Shares that had been worth £12.50 at GEC's peak had fallen to £0.04. Lord Weinstock's own stake, once worth £480&nbsp;million, was reduced to £2&nbsp;million.<ref name="olw" /><ref name = "Julian destruction"/>